Thursday, November 14, 2002
More Bang for Your Buck: Home Remodeling
Your home is your castle -- but it could cost you royally to remodel. Tonight, we've got ways to get More Bang For Your -- Remodeling -- Buck.
(WSVN) -- Home is where the heart is but if you want to make your house a very, very fine house then its time to get out the tools.
Sheleva Pineda, who is remodeling her home says, "I think when its time to sell our house were going to get a lot more out of it than how it looked before"
Sheleva pineda knows home improvement will not only improve her standard of living, it will also improve the value of her home.
And that's why she has a blueprint for getting the job done... beginning with the most popular room in the house.
She says,"We decided to update our kitchen..replace the formica with granite, the appliances we got rid of the almond look and now have stainless steel"
And Sheleva won't be throwing her money down the drain. An updated kitchen is one of the most popular features for new buyers.
Bill Griffith, from Appraisal First says,"From what I've experienced the new large kitchens are what is becoming most popular."
So what improvements can a home owner do to spruce up their house while making the most of their remodeling dollar? You can start with new windows.
He says, "Those old galicy type windows are now considered a functional inadecquacy, they are not energy efficient but not only does it make the house look more modern, but more appealing"
Another tip, listen up ladies... closets
He adds,"Large walk in, his and her closets are also the trend and in turn that has become an appealing feature in the market, so that is going to give you the most bang."
And for the man of the house
"An entertainment room or a rec room w/ a wet bar"
"Things that add comfort to the home are going to make it more appealing"
But seeing is believing... especially if you plan on selling your dream home in the near future.
Griffith says, "Insulation or new outlets - when added up it may entail a good sum of money, but a typical buyer can't see it and if a buyer can't see it chances are he won't be willing to pay more for it"
So to be cost effective, do your "home" work, literally.
Griffith says, "You have to know the price range in the neighboorhood.if your in a 100-150 thousand dollar range you certainly don't want to go and spend 20-25-30 thousand dollars on improvements"
That means depending on what your house is worth, don't invest too much into one room... instead spread the wealth like Sheleva.
She's even building a pool in her backyard.
She says, "We decided to build a pool. A lot of people told us you may not get your money's worth out of the pool but I wanted our family to enjoy it."